US Dollar Technical Analysis: Prices Bounce at Range Floor

| 30 juli, 2015 | 0 kommentarer

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Talking Points:

  • US Dollar Technical Strategy: Holding Long via Mirror Trader Basket **
  • Support: 11985, 11937, 11898
  • Resistance: 12026, 12056, 12104

The Dow Jones FXCM US Dollar Index is attempting to rebuild upside momentum after finding range bottom support. Near-term resistance is at 12026, the 14.6% Fibonacci expansion, with a break above that on a daily closing basis exposing the 23.6% level at 12056. Alternatively, a reversal below the 23.6% Fib retracement at 11985 opens the door for a challenge of the 38.2% threshold at 11937.

We remain broadly bullish on the US Dollar against its leading counterparts in line with our long-term fundamental outlook. As such, we remain long via the Mirror Trader US Dollar currency basket.

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US Dollar Technical Analysis: Prices Bounce at Range Floor

** The Dow Jones FXCM US Dollar Index and the Mirror Trader USD basket are not the same product.

— Written by Ilya Spivak, Currency Strategist for DailyFX.com

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Kategori: Analys från DailyFX

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